5 Steps for Relocating Your Real Estate Business
You’ve been running a successful real estate business in your home state, but now, you’re ready to move somewhere new - and you’re wondering how to relocate your business to Florida without causing major disruptions. Moving as a real estate agent is complicated, but with the right approach, you can successfully set up shop in a new state. Below, we outline how to navigate the business relocation process as a real estate agent.
Form a New LLC or S Corp
If you’ve been running a real estate business in one state and now you’re planning to relocate it to another, you may need to re-register to update your LLC or S corp status in line with your new location’s regulations. This is because each state has its own business formation requirements, so if you have an S corp in your current state, starting an S corp in Florida will be a must-do for the same reason. If you’d prefer not to try filing on your own or paying costly fees for a lawyer’s assistance, you can handle the S corp or LLC Florida filing process through a budget-friendly online formation service.
Depending on where you received your real estate license and which state you’re relocating to, you may also need to update your license. Find out if your current state and Florida practice reciprocity, which will allow you to simply fast-track the license transfer process.
Before moving to your new state, you can start marketing your services. Add a second location to your website, and begin sending out updates on social media to alert your audience that you’ll be moving and offering your services somewhere new. Constant Contact also suggests sending out an email newsletter with details of your upcoming move.
In order to hit the ground running in your new area, you’ll need to start conducting intensive market research in advance. Learn the ins and outs of the housing market where you’ll be moving, and reach out to any local real estate professionals you know for expert guidance.
Start Networking Early
A successful real estate agent has a wide local network. When you move somewhere new, you have to start from scratch in this regard. However, you can always start networking online before you arrive. Kapre recommends joining online groups for real estate professionals in your new city. Try to interact with the other members of these groups on a daily basis - in addition to asking questions, give people advice when you have the expertise to share! They will be happy to return the favor and help you get your company set up once you move.
Wrap Up Your Current Contracts
Right now, you might be working with a few clients in your current area. It’s important to devote your attention to any ongoing agreements you still have with your existing client roster. Guiding these clients to the final stages of the closing process should be your top priority at the moment.
Although supporting your business transition might be the most important thing on your mind right now, you also have lots of moving tasks to take care of! Since your to-do list is already extensive, why not hire movers to help out? Working with a full-service moving company that can also assist you with packing and unpacking will save you even more time. To hire reputable movers, check out their reviews online and ask around for price quotes to get the best deal.
If you’ve built a thriving real estate business in one state, you can do it in another! It will take time to rebuild your professional network, but if you’re dedicated to your job, you can cultivate valuable business connections in your community and fill your client roster. By following these tips, you’ll be able to succeed as a real estate agent anywhere you move.
Are you relocating to beautiful Gulf Breeze, Florida? Join the Gulf Breeze Area Chamber of Commerce to help your real estate business thrive in your new home state!
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